Bank of Georgia hosts information event to highlight loans and grants under EU4Business-EBRD Credit Line

Bank of Georgia hosts information event to highlight loans and grants under EU4Business-EBRD Credit Line

Georgia

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06/12/2018

The Bank of Georgia recently hosted an information event for clients to present the opportunities afforded by loans and grants provided by the EU4Business-EBRD Credit Line.

In total 150 people from a broad spectrum of commercial and industrial companies attended the information event.

Tamar Khizanishvili, Head of corporate banking at the Bank of Georgia, welcomed guests in her opening speech and explained the importance of the AA and DCFTA for Georgia. She also outlined how the EU4 Business-EBRD Credit Line helps companies, through loans and grants, to invest in processes and equipment to align with relevant EU directives, while at the same time develop their capacity and gain advantages in national markets.

A representative from the Ministry of Economics, Mariam Gabunia, presented comprehensive information on EU requirements in various sectors, including agriculture and the food industry.

Khatuna Akhalaia from the EU4Business-EBRD Credit Line described the key components of the project and explained the process of how companies can apply for EU4Business-EBRD Credits and grants. To demonstrate the opportunities for companies more clearly, she also showed case studies from the same credit line in Bosnia.

The relevance of the topic and the great interest from were reflected in the large number of questions raised during the Q&A session following the formal presentations. Participating companies showed immediate interest in understanding the application process to secure the loan investment and the grant. The 15% grant was especially attractive for companies.

One meat processing company applied for a loan immediately after the event.

Through the EU4Business-EBRD Credit Line Georgian companies can access finance to modernise their equipment, foster workplace safety practices and upgrade sanitary conditions. Within the EU4Business initiative, the financing offered by the EBRD is complemented with an EU grant of up to 15 per cent and technical assistance engaging local and international expertise.